What's Going On With Datadog Shares Today

Datadog, Inc DDOG reported first-quarter FY22 revenue growth of 83% year-on-year to $363 million, beating the consensus of $337.8 million.
As of March 31, Datadog had 2,250 customers with an ARR of $100,000 or more, increasing 60% Y/Y.
The non-GAAP gross margin expanded 300 bps to 80%. The non-GAAP operating margin expanded by 1,300 bps to 23%.
Non-GAAP EPS of $0.24 beat the consensus of $0.11.
Datadog held cash and equivalents of $1.7 billion and generated $147.4 million in operating cash flow and $129.9 million in free cash flow.
CEO Olivier Pomel said, "We continue to see customers of all sizes and in all industries progressing along their digital transformation and cloud migration journeys."
Outlook: Datadog sees Q2 FY22 revenue of $376 million - $380 million, above the consensus of $361.6 million. It sees non-GAAP EPS of $0.13 - $0.15 above the consensus of $0.12.
Datadog raised FY22 revenue outlook from $1.51 billion - $1.53 billion to $1.60 billion - $1.62 billion above the consensus of $1.53 billion. It increased non-GAAP EPS guidance from $0.45 - $0.51 to $0.70 - $0.77, above the consensus of $0.52.
Acquisition: Datadog agreed to acquire Hdiv Security, a leading security-testing software provider, for undisclosed terms.
"Combining security and observability provides Datadog customers unique insights into sensitive services that are vulnerable or under attack," said Pierre Betouin, VP of Product, Cloud Security Platform at Datadog.
DDOG shares are trading lower with the broader market, which is down due to a 50 bps Fed rate hike.
Price Action: DDOG shares traded lower by 7.98% at $109.41 on the last check Thursday.

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